Spydertrader's Jack Hershey Futures Trading Journal

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Quote from Razor:

Hi all,

I was looking at a longer trendline / channel on the ES 240 min globex all sessions. The last few moves up and down it has not quite touched the trendline. When you view it on the 240 min it looks like it is very very close but on a 5 - 15 min could be 5 points away.

Does it still count as a FTT if it is very close to not touching ? ie: does an FTT have to be atleast like 25% or so away from the trendline to be considered a true FTT ?

Cheers :D
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I believe Spyder said something similar to ... "if it doesn't touch it's an FTT".
 
Hi,

On my ES chart the price does not FTT on the first channel down.....weird:

2zy9941.png


Quote from ivob:

Chart for the morning.

In my opinion price at the moment is just moving sideways so I'm still long even though it went thru RTL.

regards,
Ivo
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Hey, thanks for the help :D

It looks like you are correct; however, why does point 1 start there and not at that first high ?

Thanks again :D

EDIT: Oh wait, ok I just re-read it a few times and I think it sunk in "In a down channel pnts 1 and 3 should be in the "upper" line."

Thanks again ;)


Quote from PepeIlegal:

HI Razor,

I think your channel it's not well drawn...

In a down channel pnts 1 and 3 should be in the "upper" line.

Regards,
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Quote from Razor:

Hey, thanks for the help :D

It looks like you are correct; however, why does point 1 start there and not at that first high ?

Thanks again :D

EDIT: Oh wait, ok I just re-read it a few times and I think it sunk in "In a down channel pnts 1 and 3 should be in the "upper" line."

Thanks again ;)
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Razor - you've missed a number of critical posts which discuss fundamental aspects of what's going on here. I'd recommend that you go back to the beginning of the journal, read closely, follow instructions exactly, and take good notes.

While I realise that there is a huge urge to "get going", it will be extremely beneficial to you in the short and long run. The market will be here, ready and waiting for you - whether you are ready for it or not.

-Au
 
HI guys,

I hear ya, I have been reading but sometimes things don't sink in for me unless I ask questions and get responses (that response on drawing the trendline 1-2-3 makes so much more sense now even though I read the threads on drawing them....weird how it sunk in from that response and someone actually drawing lines on MY chart). I will keep reading and re-reading though.

I actually have volume on another chart that I click on so I am always looking at it because I click back and forth between the charts :D

Thanks for the help :D
 
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